Buybacks of LDC Debt and the Scope for Forgiveness:
This paper explains why a debtor country may be eager to spend foreign exchange reserves on the retirement of its cross-border obligations at market prices. A simple two-period framework shows that such spending can be profitable to both the debtor countries and their foreign creditors, and thereby...
Saved in:
| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Paris
OECD Publishing
1991
|
| Series: | OECD Development Centre Working Papers
no.39 |
| Subjects: | |
| Online Access: | DE-862 DE-863 |
| Summary: | This paper explains why a debtor country may be eager to spend foreign exchange reserves on the retirement of its cross-border obligations at market prices. A simple two-period framework shows that such spending can be profitable to both the debtor countries and their foreign creditors, and thereby provides an explanation as to why the so-called buybacks of LDC debt actually take place. An extended version of the basic framework shows how buybacks can be induced by having commercial creditors grant debt forgiveness, and why debt forgiveness thereby becomes an optimal strategy for creditors to follow ... |
| Physical Description: | 1 Online-Ressource (23 Seiten) 21 x 29.7cm. |
Staff View
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| spelling | de Aghion, Béatriz Armendariz VerfasserIn aut Buybacks of LDC Debt and the Scope for Forgiveness Béatriz Armendariz, de Aghion Paris OECD Publishing 1991 1 Online-Ressource (23 Seiten) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Development Centre Working Papers no.39 This paper explains why a debtor country may be eager to spend foreign exchange reserves on the retirement of its cross-border obligations at market prices. A simple two-period framework shows that such spending can be profitable to both the debtor countries and their foreign creditors, and thereby provides an explanation as to why the so-called buybacks of LDC debt actually take place. An extended version of the basic framework shows how buybacks can be induced by having commercial creditors grant debt forgiveness, and why debt forgiveness thereby becomes an optimal strategy for creditors to follow ... Development |
| spellingShingle | de Aghion, Béatriz Armendariz Buybacks of LDC Debt and the Scope for Forgiveness Development |
| title | Buybacks of LDC Debt and the Scope for Forgiveness |
| title_auth | Buybacks of LDC Debt and the Scope for Forgiveness |
| title_exact_search | Buybacks of LDC Debt and the Scope for Forgiveness |
| title_full | Buybacks of LDC Debt and the Scope for Forgiveness Béatriz Armendariz, de Aghion |
| title_fullStr | Buybacks of LDC Debt and the Scope for Forgiveness Béatriz Armendariz, de Aghion |
| title_full_unstemmed | Buybacks of LDC Debt and the Scope for Forgiveness Béatriz Armendariz, de Aghion |
| title_short | Buybacks of LDC Debt and the Scope for Forgiveness |
| title_sort | buybacks of ldc debt and the scope for forgiveness |
| topic | Development |
| topic_facet | Development |
| work_keys_str_mv | AT deaghionbeatrizarmendariz buybacksofldcdebtandthescopeforforgiveness |